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20121120
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now. >> reporter: but republican house speaker john boehner has balked at that idea. it would take away most of his party's leverage in fiscal cliff negotiations. >> there are a lot of issues on the table that have to be resolved by the end of the year, and i think i've laid out a reasonable framework where both parties can work together, and i'm looking forward to going down to the white house on friday and beginning that conversation. >> reporter: boehner and other top republicans have proposed eliminating deductions and loopholes that benefit the wealthy instead raising their tax rates. >> we are not going to hurt our economy and make job creation more difficult which is exactly what that plan would do. >> reporter: today the president argued closing loopholes alone won't be enough to cut the deficit. he'll have that argument face to face with wayne or friday. one of the most frequent criticisms we've heard over the past few years from members on both sides if you haven't done enough to reach out and build relationships. are there concrete ways you plan to approach your relation
boehner outlined different positions is there room for a deal. >> i think there may be because john boehner made it clear that while republicans don't want tax rates to rise, they are open to collecting additional revenue. on the other side, president obama reiterated that he wants the wealthiest americans pay more taxes but he did not demand that tax rates rise to collect the money. if we read between the lines it looks like a deal could be cut to limit itemized deductions for the wealthiest americans. that's schedule a and some o of the popular deductions include mortgage interest or charitable contributions, property taxes and state and local taxes, we could see a deal around the itemized deductions. >> i don't want to be the grim reaper, what if they don't get a deal done, we're in trouble. >> 80 to 90% of americans are going to see their taxes increase, maybe by 3500 dollars on average, 2 grand for middle income americans. if you're a low to middle wage earner. here's what you would lose, the valuable earned income tax credit and payroll tax would go up by a couple percent. if
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